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Suppose that you were born in 1998. also, suppose that your mother received a $100 baby shower gift at your birth. how much would it cost to buy a similar amount of goods and services in 2013, given that
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Suppose that you were born in 1998. also, suppose that your mother received a $100 baby shower gift at your birth. how much would it cost to buy a similar amount of goods and services in 2013, given that the cpi was 163.0 in 1998 and 233.0 in 2013?

User Alan Leuthard
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Using the cpi in 2013, of 233 and in 1998 of 163, divide 233/163=1.43 x 100=$143 the cost in 2013 of the same baby shower item as in 1998. In other words the purchasing power of the $1 decreased over this time period to account for this. 
User Kyle Banker
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